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  • 11-10-22

    GASTAT: Saudi Arabia’s industrial output surges 16.8 percent in August

    (MENAFN) Saudi Arabia’s Industrial Production Index saw a surge of 16.8 percent in August in comparison to the same time span in 2021, as shown by the most recent General Authority for Statistics report.

    The expansion in IPI was mainly motivated by surged output in the three subsectors — mining and quarrying, manufacturing, as well as electricity and gas provisions, according to official data.

    The expansion of the IPI became optimistic in May last year, and it has been surging progressively since then. This follows a negative trends seen throughout 2019 and 2020 because of the effect of the epidemic.

    IPI is a financial measure that reflects the relative changes in the capacity of industrial production, as said by GASTAT.

    In line with the report, mining and quarrying rose by 15.5 percent in August in comparison to the same month in 2021 as the nation grew its oil output to its peak rate by over 11 million barrels a day in August this year.

    MENAFN11102022000045014228ID1105000003

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